DealZone

The afternoon deal: Criminally inclined

A file photo of an inmate inside a prison in Arbil, 190 miles north of Baghdad March 4, 2010.  REUTERS/Azad Lashkari Pay-to-play, pump-and-dump schemes and plain old bribery are on the plate today. Rising above the muck is Quadrangle, which is now looking at starting up a new fund after settling an SEC investigation, a source tells Reuters. Steve Rattner, Quadrangle’s co-founder, is still under scrutiny.

From the Web:

Quadrangle, Cuomo in kickback accord; Rattner eyed (Reuters)
Quadrangle did not admit wrongdoing in agreeing to settle. In a joint statement with Cuomo, it said the principals involved in the alleged improper conduct have left the firm.

Quadrangle’s Anti-Love Letter To Steve Rattner (WSJ)
“If there was any doubt that Steven Rattner parted from Quadrangle Group LLC on less than amicable terms, let that doubt now be laid to rest.”

Germans target nine suspects in HP bribery probe (Reuters)

Goldman Director in Probe (WSJ)
“Wall Street’s most powerful firm is being drawn into the government’s sprawling insider-trading investigation.”

Special Report: Sweethearts in crime (Reuters)
“At one time, the idea of a husband and wife team like the Stones working in tandem to orchestrate a securities fraud might seem like a Wall Street novelty act. But that’s not the case any more.”

Ropes & Gray: In the news again…

Law firm Ropes & Gray has gone from commenting on the Galleon insider trading case to being in the case.

Just last week, Ropes & Gray partner Christopher Conniff talked with the New York Times for an article about the Galleon insider trading case, discussing the statue of limitations for these cases.

Today, nine more people were arrested in the Galleon Group insider-trading scandal, including Arthur Cutillo, a former associate at the tony, Boston-based law firm.